Another Industry Bailed-Out

Via  Bryan Munn, some startling news:

 

OTTAWA/TORONTO —Prime Minister Stephen Harper and Ontario Premier Dalton McGuinty have announced a $50-million aid package for Canada’s struggling comic book industry.

They said Canada’s bailout, which they called a “short term loan,” is proportionate to the operations of Canadian retailers and publishers, which are estimated to be about 20 per cent of North American production.

The two leaders announced the package on Tuesday morning at a joint press conference in Toronto.

Ontario will contribute about $10 million to the package and Ottawa will provide $40 million.

Harper told reporters the aid package “is not a blank cheque” and that he wants to see comic book stores, distributors, publishers, and cartoonists work together to restructure their operations.

“All stakeholders are going have to be part of the solution,” Harper said.

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